KNUTSON ROBERT B

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value	Details
2004-07-21	2004-07-20	Education Management Corp (EDMCQ)	PlS Planned sale	29,936 -25.3% 356.28 US$2,523,471	29,936 -25.3%	356.28	US$2,523,471
2004-05-20	2004-05-18	Education Management Corp (EDMCQ)	PlS Planned sale	6,810 +38.8% 480.64 US$2,408,930	6,810 +38.8%	480.64	US$2,408,930